world bank
TRANSCRIPT
Presented To
Prof. Amna MajeedPresented ByNajeeb Ullah L4S12MCOM2057Sana Shafique L4S12MCOM2061Mehwish Butt L4S12MCOM2062Ammar Ali Khan L4S12MCOM2066Muhammad Zohaib NasirL4S12MCOM2074
The world bank is an international organization dedicated to provide Financing, Advice and research to developing nations to aid their economic advancements
It provides loans to the developing countries for capital advancement.
The world bank focuses to reduce the poverty. The bank’s decision must be guided by a commitment to promote foreign investment, trade and enhance the capital investment.
INTRODUCTION
The world bank was created at the end of the World War II.
The world bank is one of the four institutions created at the Breton Woods conference, in 1944.
Delegates from many countries attended the conference, the most powerful one is UK and USA
Traditionally the world bank is leaded by a US citizen
The Bank functions as an international organization that attempts to fight poverty by offering developmental assistance to middle and poor-income countries.
HISTORY
The bank was providing the loans for the reconstruction and development of needy countries.
France was the first country to receive loan, From 1968 to 1980, the bank concentrated on
meeting the basic needs of people in the developing world.
In late 1980’s a report by UNICEF tells that the world bank were responsible for the "reduced health, nutritional and educational levels for tens of millions of children in Asia, Latin America, and Africa".
From 1989 till present World Bank policy changed in response to criticism from many groups.
history
First president: Eugene MeyerPresent president: Jim Yong KimManaging director: Caroline Anstey, Sri
Mulyani IndrawatiHeadquarters: Washington, D.C.Employees and offices: more than 9,000
employees in more than 100 offices worldwide
GENERAL INFORMATION:
Basically the World Bank comprises of two institutions managed by 188 member courtiers International Bank for Reconstruction and Development
(IBRD) International Development Association (IDA)The World Bank differs from the World Bank group in the sense that the World bank comprises of only two institutions whereas the World Bank group incorporates the three otherInternational Finance Corporation (IFC)Multilateral Investment Guarantee Agency (MIGA)International Centre for Settlement of Investment
Disputes (ICSID)
Structure of the world bank
Organizational HierarchyBoard of
Governors
Executive Directors
Director-General
Chairperson
President
Managing Director
Vice President
To fight poverty with passion and professionalism for lasting results.
To help people help themselves and their environment by providing resources, sharing knowledge, building capacity, and forgoing partnerships in the public and private sectors.
To be an excellent institution able to attract, excite, and nurture diverse and committed staff with exceptional skills who know how to listen and learn.
Mission statement
There are total of 188 member countries. Some of them are as follows
Member countries
The World Bank was established to promote long-term foreign investment loans on reasonable terms. The, purposes of the Bank, as set forth in the 'Articles of Agreement’ are as follows:
To assist in the reconstruction and development, restoration and reconversion of destroyed economies or nations etc.etc.
To promote private investment
Objectives
To promote the long-range balanced growth of international trade
To arrange the loans made or guaranteed by it in relation to international loans through other channels so that the more useful and urgent projects, large and small alike, will be dealt with first.
To conduct its operations with due regard to the effect of international investment on business conditions in the territories of members
Objectives
World Bank performs the following functions:Granting reconstruction loans to war
devastated countries.Providing loans to governments for
agriculture, irrigation, power, transport, water supply, educations, health, etc.
Providing loans to private concerns for specified projects.
Promoting foreign investment by guaranteeing loans provided by other organizations.
Functions
Providing technical, economic and monetary advice to member countries for specific project
Encouraging industrial development of underdeveloped countries by promoting economic reforms.
Granting developmental loans to underdeveloped countries.
Functions
1. General Progress:(i) The Bank's membership has increased from the initial
number of 30 countries to 68 countries in 1960 and to 151 countries in 1988.
(ii) In 1960, the Bank approved loans worth $ 659 million which went up to $ 14,762 million in 1988.
2. Lending Operations:
IBRD has granted loans worth $155049 million till june 1988
22% for energy, 21% for agriculture development, 18% for transportation, 10% for industry and small scale enterprises.
Achievements
3. Term Loans: The Bank grants medium and long-term for
reconstruction and development purposes to the member countries depending upon the estimated useful life of the equipment or plant financed.
4. Loans for Reconstruction: In the initial years of its establishment, the World
Bank's loans were mainly directed to the European countries for financing their programs of reconstruction. The Bank provided loans worth about $ 5, 00 million for reconstruction purposes.
Achievements
5. Traditional Development Loans Policy:The traditional development loan policy of the Bank
has been to help the member nations to strengthen the foundations of their economies for rapid economic development.
6. New Loan Strategy: Recently, however, the Bank has changed its
development loan strategy and lays more emphasis of financing schemes
(i) The amount of agricultural loans has increased(ii) The bank now also takes interest in the activities
of the development of rural areas
Achievements
7. Assistance to Underdeveloped Countries: The following are the main aspects of Bank's assistance to the
underdeveloped countries(i) Bulk of the Bank's financial assistance has been given to the
underdeveloped countries for the promotion of development.(ii) Through its 'third window", the Bank has made available
loans to the underdeveloped countries at tower interest rates.(iii) The Bank organizes meetings of creditor countries for
extending assistance to the developing countries. Aid India Club is one such example.
(iv) The Bank also provides technical assistance to the developing countries by making available training facilities through its various institutions.
Achievements
In fiscal 2012, the World Bank Group committed $52.6 billion in loans, grants, equity investments, and guarantees to its members and to private businesses. IDA, the Bank’s fund for the poorest countries, made commitments of $14.8 billion, compared with $16.3 billion in 2011.
RECENT DATA:
Pakistan became a member of the World Bank in 1950 and began borrowing from it in 1952.
The country also started borrowing from IDA since its inception in 1962. Therefore, the Pakistan-World Bank relationship spans over half a century.
Pakistan has also remained in the list of the top ten recipients of WB financing and its economy has benefited in more ways than meets the eye.
WORLD BANK AND PAKISTAN:
In the 1990’s, the World Bank played a key role in assisting the establishment of the Hub Power project in Pakistan.
The World Bank uses lending and analytical work to help Pakistan achieve its goals.
The Bank also manages a Multi-Donor Trust Fund of about $140 million for conflict-affected areas.
Until now World Bank has provided assistance in many projects carried on in Pakistan.
WORLD BANK AND PAKISTAN:
In nutshell, Today's Bank has sharpened its focus on poverty reduction as the overarching goal of all its work. It once had a homogeneous staff of engineers and financial analysts, based solely in Washington, D.C. Today, it has a multidisciplinary and diverse staff including economists, public policy experts, sect oral experts, and social scientists. 40 percent of staff is now based in country offices. Reconstruction remains an important part of its work. However, at today's World Bank, poverty reduction through an inclusive and sustainable globalization remains the overarching goal of our work.
CONCLUSION:
